The market is anticipated to reach a total value of US$25.4 billion by the end of 2018.The global market for motor vehicle sensors is classified according to application into engine and drivetrain, emission control, safety and security, and others. Engine and drivetrain is the largest application of global motor vehicle sensors and held a 34% market share in 2012. On the other hand, the safety and security sector is forecast to be the fastest growing segment, with an expected CAGR of 12.9% during the forecast period.
Albany, NY -- (SBWIRE) -- 12/01/2016 -- Motor vehicle sensors are the sensing devices that detect the variation or change in any parameter that is to be monitored in a motor vehicle. The global sensors market is witnessing a surge in growth, fuelled by demand for motor vehicle sensors, which in present economic scenario is the most fertile end use market for the sensor manufacturers. It provides strong base for the global sensors market growth. The motor vehicle sensors market has witnessed an upsurge over the past few years with the increased usage of sensors in safety and control applications. Rising emphasis on vehicle fuel efficiency and powertrain performance is resulting in increase in demand for different sensors such as accelerometer sensors, reverse parking sensors, and pressure sensors among others.
Sensors in motor vehicles find applications in different electrical and electronic systems designed for better comfort and safety. Motor vehicle manufacturers are now-a-days making use of advanced technology and electronic elements to provide fuel-efficiency, eco-friendliness, and safety. Estimates suggest that the increasing demand for electronically controlled systems on vehicles will consequently contribute to the growth of the automotive sensor market. On an average, each motor vehicle comprises 30 electronic systems and over 100 sensors. With the advancements made in automotive technologies, many parameters have been developed, with all aimed towards improving the safety and driving experience. There are different types of sensors available for monitoring the variations in these parameters, resulting in market growth multiplication.
Some of the important applications of sensors in motor vehicles include engine and drivetrain applications, safety and security applications, emission control applications and other smaller applications. Among all, sensors with safety and security applications, is the fastest growing segment in the global motor vehicle sensors market. The need for better safety and security is currently pushing the market demand for these sensors.
Based on product type, global motor vehicle sensors market can be categorized into physical property sensors, process variable sensors, proximity and positioning sensors, chemical property sensors, and others. The sensors in the motor vehicles used for measuring physical properties such as force, motion, vibration, and speed among others are termed as physical property sensors. It is the largest product segment in motor vehicle sensors market.
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Geographically, Asia Pacific is the base of many automobile manufacturers and as a result is the largest consumer of motor vehicle sensors. It alone accounts for near about fifty percent market share of the global motor vehicle sensors market. China, which is the largest economy in the region, is also the world's largest automotive production market. Owing to large population base and low production cost, Asia Pacific region is seeing surge in new production bases by global manufacturers. China and India individually produced more than 10 million vehicles in the year 2011.
Eyeing the lucrative growth opportunities, many players are venturing in the market. As a result, the global market for motor vehicle sensors has become highly fragmented with large number of players holding small market share Players such as Bosch, Denso, Valeo are among the leading players in the global motor vehicle sensors market Other important players engaged in motor vehicle sensors manufacturing include Continental, Delphi, Hitachi, and Analog Devices, among others.